FORMATION CAPITAL, SAFANAD ACQUIRE SENIORS HOUSING PORTFOLIO FOR $150M

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NEW YORK — Formation Capital and Safanad Limited have acquired a portfolio of 14 skilled nursing facilities in the mid-Atlantic region for approximately $150 million. The 1,658-bed portfolio includes 11 facilities in Virginia, two in Maryland and one in Pennsylvania. Consulate Health Care, the sixth-largest skilled nursing care provider in the United States, operates the 14 properties.

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